Cape Town's best selling suburbs in 2019
South Africa - Property360
Lower-priced homes were the biggest sellers during a tough year for Cape Town’s property professionals.
This has undoubtedly been tough for the property market, but this has not stopped aspiring homeowners from claiming their piece of the property pie. The pie, however, appears to be a blend of flavours with a range of areas and suburbs appealing to diverse ranges of buyers and for various reasons.
There does not appear to be an outright winner of the “Most Popular Suburb of the Year” award in Cape Town. However, the Cape Town area to see the most property sales this year was Belhar, shows Lightstone Property data. A total of 990 properties were sold here to date, with an average purchase price of R377 421.
Milnerton’s Parklands follows with 905 properties sold, and Richwood with 744 sales. Among the other top areas in the mix are the southern suburbs, Vredehoek, eastern suburbs and the Atlantic seaboard. Property searches on Property360. co.za for the past 12 months show the majority of interest in Western Cape properties for sale was directed at the eastern suburbs (including Woodstock, Maitland, and Pinelands) with more than 38 000 searches.
Property360
PayProp Rental Index
South Africa - PayProp
Flat growth is good news
Monthly rental growth figures – measured year on year (YoY) – were very flat for the first nine months of 2019, following on from similar performance in 2018. Figures fluctuated between 3.1% and 4.2% each month and remained below the inflation rate (4.1%) through August.
September brought the year’s first good news – the highest YoY growth rate of the year (4.2%), and the first time the monthly growth rate exceeded inflation since April 2018. This could signal the beginning of a (slow) recovery in the rental market.
Because of this year’s slow growth, the average national rent increased only marginally, from R7,544 in January to R7,727 in September – a difference of less than R200.
Pay Prop Rental Index Q3 2019
Digital assets “are property” under English law
UK - LegalFutures
Blockchain and smart contracts were given a major boost towards becoming a standard method for securely storing and transferring cryptoassets yesterday, when the expert panel charged with giving the technology legal certainty declared they should be treated in principal as property.
The much-anticipated 56-page legal statement by the UK jurisdiction taskforce of the LawTech Delivery Panel will help reduce the legal doubt that has slowed the adoption of distributed ledger technology by international traders and could make Britain a global centre for digital property disputes.
The taskforce’s chair, Sir Geoffrey Vos, Chancellor of the High Court, said he had no doubts the technology was how business would be conducted in future.
Legal Futures
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